AFESD Grants Yemen 26 Million Kwaiti Dinar [Archives:2001/02/Local News]
A loan agreement worth 26 Million Kwaiti Dinar was signed between the Republic of Yemen and the Arab Fund for Economic and Social Development (AFESD) yesterday. The loan was given as a participation in the construction and paving of a road between Syhoot and Nashtoon in Yemen.
The agreement was signed by Mr. Ahmed Sofan, Planning and Development Minister of Yemen, and Mr. Abdul Latif Yusif Al Hamd General Manager of the Fund. There will be an annual interest of 3% due in a period of 25 years as well as an extra 6 years after that. Executing will be supervised by the Housing and Civic Planning Ministry.